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RESOLUTION No. ZID <br />WHEREAS, the City of La Porte (City) has previously passed Ordinance No. 2010-3248 electing to <br />participate in the Texas Enterprise Zone Program, and the local incentives offered under this resolution <br />are the same on this date as were outlined in Ordinance No. 2010-3248; <br />WHEREAS, the Office of the Governor Economic Development and Tourism (EDC) through the <br />Economic Development Bank (Bank) will consider INEOS USA, LLC as a Triple Jumbo enterprise <br />project pursuant to a nomination and an application made by the City; <br />WHEREAS, the City desires to pursue the creation of the proper economic and social environment in <br />order to induce the investment of private resources in productive business enterprises located in the City <br />and to provide employment to residents of enterprise zones and to other economically disadvantaged <br />individuals; <br />WHEREAS, pursuant to Chapter 2303, Subchapter F of the Texas Enterprise Zone Act, Texas <br />Government Code (the "Act"), INEOS USA, LLC has applied to the City for designation as a triple <br />jumbo enterprise project; <br />WHEREAS, the City finds that INEOS USA, LLC meets the criteria for designation as a triple jumbo <br />enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds: <br />INEOS USA, LLC is a "qualified business" under Section 2303.402 of the Act since it will be <br />engaged in the active conduct of a trade or business at a qualified business site located in an <br />enterprise zone and at least twenty-five percent (25.0%) of the business' new employees will be <br />residents of an enterprise zone or economically disadvantaged individuals; and <br />There has been and will continue to be a high level of cooperation between public, private, and <br />neighborhood entities within the area; and <br />The designation of INEOS USA, LLC as an enterprise project will contribute significantly to the <br />achievement of the plans of the City for development and revitalization of the area. <br />WHEREAS, the City finds that INEOS USA, LLC meets the criteria for tax relief and other incentives <br />adopted by the City and nominates INEOS USA, LLC for triple jumbo enterprise project status on the <br />grounds that it will be located at the qualified business site, will create a higher level of employment, <br />economic activity and stability; and <br />WHEREAS, the City finds that it is in the best interest of the City to nominate INEOS USA, LLC as a <br />triple jumbo enterprise project pursuant to the Act; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE: <br />That the findings of the City and its actions approving this resolution taken at the council <br />meeting are hereby approved and adopted. <br />BE IT FURTHER RESOLVED that INEOS USA, LLC is a "qualified business", as defined in Section <br />2303.402 of the Act, and meets the criteria for designation as an enterprise project, as set forth in Section <br />2303, Subchapter F of the Act. <br />BE IT FURTHER RESOLVED that the enterprise project shall take effect on the date of designation of <br />the enterprise project by the agency and terminate on December 31, 2017. <br />